Phathom Pharmaceuticals(US:PHAT)2025-10-30 11:00Financial Performance - Total net revenues for Q3 2025 were $49.5 million, a 25% increase quarter over quarter from $39.6 million in Q2 2025[4] - Net loss for Q3 2025 was $30.0 million, significantly reduced from $85.6 million in Q3 2024[13] - Non-GAAP adjusted net loss for Q3 2025 was $11.2 million, compared to $67.9 million for the same period in 2024[13] - Product revenue for Q3 2025 reached $49.5 million, a significant increase from $16.4 million in Q3 2024, representing a growth of 202%[20] - Gross profit for the nine months ended September 30, 2025, was $102.6 million, compared to $21.4 million for the same period in 2024, indicating a growth of 378%[20] - The net loss for Q3 2025 was $30.0 million, compared to a net loss of $85.6 million in Q3 2024, reflecting an improvement of 65%[20] - Non-GAAP adjusted net loss for Q3 2025 was $11.2 million, compared to $67.9 million in Q3 2024, showing a reduction of 83%[22] - The company reported a net loss per share of $0.41 for Q3 2025, an improvement from $1.32 in Q3 2024[22] Expenses Management - Cash operating expenses decreased by 43% quarter over quarter, totaling $58.6 million in Q3 2025 compared to $94.4 million in Q2 2025[8] - Total operating expenses for Q3 2025 were $58.6 million, down from $84.8 million in Q3 2024, a reduction of 31%[20] - Selling, general and administrative expenses decreased to $51.6 million in Q3 2025 from $76.1 million in Q3 2024, a decline of 32%[20] - Research and development expenses for Q3 2025 were $7.0 million, slightly down from $8.7 million in Q3 2024[20] - The company incurred total other expenses of $14.7 million in Q3 2025, consistent with $14.8 million in Q3 2024[20] Cash Position - Cash and cash equivalents as of September 30, 2025, were $135.2 million, with net cash usage improving by 77% from approximately $63 million in Q2 2025[13] Product Development - VOQUEZNA prescriptions filled increased by 28% from Q2 2025, with approximately 221,000 prescriptions filled in Q3 2025[5] - The Phase 2 trial for VOQUEZNA in Eosinophilic Esophagitis was initiated in October 2025, with results expected in 2027[8] Future Outlook - The company updated its full-year 2025 revenue guidance to a range of $170 million to $175 million[13] - The company expects to achieve operating profitability in 2026 based on current operating plans and projected product revenues[13] - VOQUEZNA commercial coverage remains stable, with over 80% of U.S. commercial lives covered[5] Shareholder Information - Weighted-average shares outstanding increased to 73.4 million in Q3 2025 from 64.6 million in Q3 2024[22]